Yes, keep looking 'til you find yourself a 301 for what you want to pay for it......I have two, and love them both too much to even consider selling one of them--what a mis-statement that was, I don't sell anything--anyways, I love both my 301s, they sew beautifully and are very easy to tote around (I am an old lady, so that matters). I don't know about the FMQ part though, I have a Gammill for my quilting efforts. Good luck in your search, and keep us posted on your progress.